Gloomy coastal QLD unit and townhouse market improves

Buyers are getting back into the once quiet unit and townhouse market along the Queensland coast, sensing a bargain.

Some coastal markets are now seeing prices rise again, according to the Real Estate Institute of Queensland (REIQ).

“The top end of the market is becoming increasing popular as buyers take advantage of some good opportunities,” said REIQ Chairman Peter McGrath.

Sales numbers in the March quarter were up in Brisbane, Gold Coast and Sunshine Coast, while prices were increasing in Townsville, Mackay, Gladstone and Sunshine Coast, according to the REIQ.

McGrath said units and townhouses in prime Gold Coast waterfront suburbs, abandoned in the recent past by buyers, have seen a return of activity.

Areas such as Broadbeach, Burleigh Heads, Tugun, and Surfers Paradise all recorded median price increases in the March quarter.

“These waterfront locations have staged a comeback,” said McGrath.

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